Real Estate Investing: Getting Property Rental Ready

One of the most important things to remember, if you are attempting to make a property rental ready, is that each new tenant and lease has to be treated as a separate entity. This does not mean that you should not have a set of rules and guidelines to follow, but each time a tenant moves in should be unique. They will not care about any work you have done before they move in. All they want to see is the condition of the property on the days leading up to the move in date. To have a successful lease, what you do before the lease starts can often dictate how your term is going to go.

Even if you only have a few days from the end of the existing lease to the start of the new one, you need to follow a plan. You should have a checklist for everything you want to do. Start with the basic cosmetic items like painting and cleaning. Repairing or replacing little things like door knobs or rug mats may seem like a pain, but your tenant will appreciate it. Focus on cleanliness and safety, and look at the property in terms of what you would want fixed if you lived there.  The little details count when making a property rental ready.

It helps to have someone close to you, but not in the business, walk through the house and give their feedback on what changes you should make. It is not the end of the world if the house isn’t 100% finished on the move in date. In this case, you should prorate the rent to as many days as they are in the property. This sets the tone for a happy, trusting relationship between you and your tenant. First impressions are important when your tenant moves in. Make sure you have the unit rental ready and looking as you would want it if you lived there.$

[Ed. Note: Need additional income to help support or supplement your real estate business? Ray is offering a complete blueprint to helping you take control of your financial future with a web-based business that you can operate from anywhere in the world – including a coffee shop, your kitchen table, or anywhere around the world where there is Internet access. Discover how you can achieve the American Dream and your financial independence here. You’ve never seen anything like this before.]